DDM Analysis: 002949.SZ

Valuation Snapshot

Stable Growth	$39.31 - $85.24	$79.88
Multi-Stage	$13.24 - $14.47	$13.85
Blended Fair Value	$46.86
Current Price	$15.80
Upside	196.61%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	23.15%	86.34%	0.83	0.32	0.32	0.41	0.21	0.29	0.15	0.36	0.15	0.02
YoY Growth	-	-	158.38%	0.57%	-21.94%	93.78%	-27.94%	96.46%	-58.88%	150.63%	640.02%	1,089.71%
Dividend Yield	-	-	5.10%	2.65%	2.19%	2.67%	1.03%	1.72%	0.51%	2.41%	0.96%	0.13%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	84.03
(-) Cash Dividends Paid (M)	68.61
(=) Cash Retained (M)	15.41

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	16.81	10.50	6.30
Cash Retained (M)	15.41	15.41	15.41
(-) Cash Required (M)	-16.81	-10.50	-6.30
(=) Excess Retained (M)	-1.39	4.91	9.11
(/) Shares Outstanding (M)	196.04	196.04	196.04
(=) Excess Retained per Share	-0.01	0.03	0.05
LTM Dividend per Share	0.35	0.35	0.35
(+) Excess Retained per Share	-0.01	0.03	0.05
(=) Adjusted Dividend	0.34	0.38	0.40
WACC / Discount Rate	6.42%	6.42%	6.42%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$39.31	$79.88	$85.24
Upside / Downside	148.81%	405.59%	439.50%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	84.03	89.49	95.31	101.50	108.10	115.12	118.58
Payout Ratio	81.66%	83.33%	85.00%	86.66%	88.33%	90.00%	92.50%
Projected Dividends (M)	68.61	74.57	81.00	87.96	95.48	103.61	109.68

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.42%	6.42%	6.42%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	69.41	70.07	70.73
Year 2 PV (M)	70.19	71.53	72.88
Year 3 PV (M)	70.95	72.98	75.06
Year 4 PV (M)	71.69	74.45	77.28
Year 5 PV (M)	72.41	75.91	79.54
PV of Terminal Value (M)	2,241.24	2,349.50	2,461.89
Equity Value (M)	2,595.89	2,714.43	2,837.38
Shares Outstanding (M)	196.04	196.04	196.04
Fair Value	$13.24	$13.85	$14.47
Upside / Downside	-16.19%	-12.37%	-8.40%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 28 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
ORA	Ormat Technologies, Inc.	0.42%	$0.48	21.81%
VLTO	Veralto Corporation	0.42%	$0.42	11.39%
CEG	Constellation Energy Corporation	0.41%	$1.52	17.38%
EXPE	Expedia Group, Inc.	0.41%	$1.15	10.88%
GE	GE Aerospace	0.40%	$1.29	17.08%
GEHCV	GE HealthCare Technologies Inc.	0.40%	$0.23	5.05%
ATMU	Atmus Filtration Technologies Inc.	0.39%	$0.20	8.42%
BMNR	Bitmine Immersion Technologies, Inc.	0.39%	$0.12	0.85%
CHDN	Churchill Downs Incorporated	0.39%	$0.43	7.61%
PLPC	Preformed Line Products Company	0.39%	$0.83	11.03%
AAPL	Apple Inc.	0.38%	$1.03	13.77%
AMOT	Allied Motion Technologies Inc.	0.38%	$0.12	21.85%
CASY	Casey's General Stores, Inc.	0.38%	$2.09	12.85%
EA	Electronic Arts Inc.	0.38%	$0.77	21.92%
LOB	Live Oak Bancshares, Inc.	0.37%	$0.13	8.44%
PCG-PA	Pacific Gas and Electric Company	0.37%	$0.08	6.94%
CTS	CTS Corporation	0.36%	$0.16	8.09%
GVA	Granite Construction Incorporated	0.36%	$0.43	12.45%
LCORX	Leuthold Core Investment Fund	0.36%	$0.08	4.98%
LCRIX	Leuthold Core Investment Fund Class Institutional	0.36%	$0.08	4.98%
UHAL	U-Haul Holding Company	0.36%	$0.18	17.87%
BOX	Box, Inc.	0.35%	$0.10	6.61%
HCC	Warrior Met Coal, Inc.	0.35%	$0.31	47.04%
MCK	McKesson Corporation	0.35%	$2.91	8.98%
CSWI	CSW Industrials, Inc.	0.34%	$1.02	11.93%
MOG-A	Moog Inc.	0.34%	$0.85	11.59%
SRBK	SR Bancorp, Inc. Common stock	0.34%	$0.05	9.61%
VHAQ-UN	Viveon Health Acquisition Corp.	0.34%	$0.04	17.38%
WWD	Woodward, Inc.	0.34%	$1.05	14.70%
AGX	Argan, Inc.	0.33%	$1.08	12.72%
PJT	PJT Partners Inc.	0.33%	$0.56	13.70%
REGN	Regeneron Pharmaceuticals, Inc.	0.33%	$2.59	6.06%
LPLA	LPL Financial Holdings Inc.	0.32%	$1.16	11.15%
META	Meta Platforms, Inc.	0.31%	$2.04	8.98%
ESAB	ESAB Corporation	0.30%	$0.34	8.52%
POWL	Powell Industries, Inc.	0.30%	$1.05	7.31%
VC	Visteon Corporation	0.30%	$0.29	2.59%
WST	West Pharmaceutical Services, Inc.	0.30%	$0.83	12.34%
CASH	Pathward Financial, Inc.	0.29%	$0.21	2.52%
NGS	Natural Gas Services Group, Inc.	0.29%	$0.10	6.71%
PLUS	ePlus inc.	0.29%	$0.25	5.41%
RVTY	Revvity, Inc.	0.29%	$0.28	14.01%
TMO	Thermo Fisher Scientific Inc.	0.28%	$1.65	9.48%
MRVL	Marvell Technology, Inc.	0.27%	$0.24	8.33%
VNT	Vontier Corporation	0.27%	$0.10	3.64%
DBRG	DigitalBridge Group, Inc.	0.26%	$0.04	9.84%
FOUR	Shift4 Payments, Inc.	0.26%	$0.16	7.44%
GOOG	Alphabet Inc.	0.26%	$0.82	8.01%
TPB	Turning Point Brands, Inc.	0.26%	$0.29	10.22%
USB-PA	U.S. Bancorp PERP PFD SER A	0.26%	$2.02	43.68%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Shenzhen Capol International & Associatesco., Ltd (002949.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener